The Economic and Financial Crimes Commission (EFCC) recovered N1.233 trillion between October 2023 and June 2026 as part of its sustained campaign against economic and financial crimes, EFCC Chairman, Ola Olukoyede, has disclosed.
Olukoyede also said the commission recovered $684.48 million, £373,905.78 and €9.34 million, in addition to funds recovered in other currencies, during the period.
The EFCC chairman disclosed this at the commission’s headquarters in Jabi, Abuja, while presenting his three-year stewardship report to journalists.
According to him, N397.26 billion, representing 33 per cent of the naira recoveries, constituted direct recoveries for the Federal Government, while N836.34 billion, or 67 per cent, represented indirect recoveries made on behalf of ministries, departments and agencies, state revenue services, companies, individuals and foreign victims.
Olukoyede said the commission had also released N661.32 billion and $492.37 million to beneficiaries during the period.
He explained that N325.35 billion of the naira releases was paid directly to individuals and corporate bodies, while N335.97 billion was released to various government agencies, the Nigerian Revenue Service, state internal revenue services and other public institutions, companies and individuals.
The EFCC chairman said federal and state tax recoveries amounted to approximately N288.1 billion, comprising N173.2 billion in federal tax recoveries and N114.9 billion attributed to states’ internal revenue services.
He added that N257.2 billion was recovered for federal ministries, departments and agencies.
Olukoyede said the anti-corruption campaign had also produced social and economic benefits, noting that N50 billion each from recovered proceeds was allocated to the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation in 2024, with another N50 billion allocation to each institution approved in 2026.
He also disclosed that a recovered property, NOK University, had been converted into the Federal University of Applied Sciences, Kachia, Kaduna State, where 1,909 students matriculated in December 2025.
On enforcement, Olukoyede said the EFCC received 49,673 petitions, investigated 39,615 cases, filed 14,476 cases in court and secured 10,872 convictions between October 2023 and July 2026.
He said the figures represented a conviction-to-filing ratio of 75.1 per cent, adding that 1,370 convictions were secured from 1,889 filings in the first half of 2026 alone.
According to him, data from 2024 to 2026 year-to-date showed 46,288 offences across nine major financial crime categories, with advance fee fraud and cybercrime accounting for nearly two-thirds of the recorded offences.
The EFCC chairman said the commission had continued to prosecute high-profile cases, including former governors, ministers, public office holders, heads of agencies, financial-sector operators and corporate officials.
He cited recent convictions involving former Minister of Power, Saleh Mamman; former NEXIM Bank Managing Director, Robert Orya; and Chukwunyere Nwabuoku.
Olukoyede further disclosed that the commission’s specialised enforcement portfolio covering money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing recorded 920 cases, with 212 convictions.
On asset forfeiture, he said 10,053 tangible assets were forfeited under interim and final court orders between October 2023 and July 2026.
The assets included 8,198 electronic items, 1,177 real-estate assets, 370 automobiles and 251 plots of land, as well as schools, factories, hotels, shops, oil rigs, barges, machinery and aircraft.
He added that 102 tonnes of solid minerals were also forfeited, while proceeds from the disposal of assets under final forfeiture orders amounted to approximately N12.07 billion and were paid to the Federal Government.
Olukoyede said the commission’s enforcement activities contributed to Nigeria’s removal from the Financial Action Task Force (FATF) Grey List in October 2025.
He disclosed that the EFCC recorded 234 bureaux de change cases and 73 convictions within the last three years, saying the enforcement was aimed at supporting a more formal and transparent foreign-exchange market.
On institutional reforms, Olukoyede said the commission introduced new guidelines on arrest and bail, reviewed sting operations and established the Department of Fraud Risk Assessment and Control, Security Department, Immigration and Visa Section and Cybercrime Rapid Response Centre.
He said almost 60 per cent of the EFCC’s processes and operations had been digitalised, alongside investments in a new academy, a 24-hour Cybercrime Rapid Response Centre and EFCC Radio.
Olukoyede said the commission would focus in the coming years on prevention, faster restitution, improved investigative technology and greater professionalism in its engagement with citizens.
He said the EFCC’s responsibility was to turn intelligence into prevention, investigations into prosecutions, prosecutions into convictions, recoveries into restitution and enforcement into measurable national value.
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